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Globalisation - Coggle Diagram
Globalisation
Causes
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Trade Liberalisation
Decreasing trade barriers, making trade more free and easy.
Multinational Companies
TNCs are companies that operate in two or more countries across the world. They increase the flows of money throughout the world as the various functions of the company may be in different countries in order to cut costs and save money. They may be able to influence the decisions of governments across the world as they may have the skills and money to lobby governments.
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Impacts
Consumers
Consumer choice- availability of goods has increase and so has the choice of goods consumers have. Places become more homogenised as they adapt to become more inclusive for more cultures
Prices- Globalisation has led to changing costs of many good. Certain goods become cheaper as production is switched to cheaper locations. However, it also leads to prices rising for certain goods as average incomes increase and so demand increases as well.
Incomes- Overall globalisation has raised incomes worldwide, however some people have lost jobs as a result.
Workers
Employment & unemployment- the transfer of manufacturing jobs from countries such as the US had led to large amounts of job losses here whilst there has been an increase in employment in countries like China
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Producers
Specialisation & economic dependency- Globalisation allows for an increase in trade which in turn allows countries to become more specialised as they have more reliant trade partners that can provide goods the country no longer specialises in.
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Footloose Capitalism- Multinationals that operate in numerous countries have the power to from one country to another.
Characteristics
Integration of worlds local, regional and national economies into a single economic market
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